The board of directors of BII Railway Transportation Technology Holdings Company Limited announced that Mr. Cao Wei (Mr. Cao) has been re-designated from an executive Director to a non-executive Director with effect from 21 January 2022 (the Re-designation). Due to Mr. Cao's reduced involvement in the day-to-day management of the Company, and in order to devote more time on his other commitments, Mr. Cao proposed to the Board to step down from his executive position in the Company. Taking into account of Mr. Cao's extensive experience in the industry, and that he is the second largest shareholder of the Company as at the date of this announcement, the Board considers suitable to re-designate Mr. Cao from an executive Director to a non-executive Director.

Mr. Cao has confirmed that he has no disagreement with the Board and that he was not aware of other matters that need to be brought to the attention of the shareholders of the Company in connection with the Re-designation.